Kaiser Aluminum (NASDAQ:KALU) Sets New 12-Month High at $95.59

Kaiser Aluminum Co. (NASDAQ:KALU - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $95.59 and last traded at $94.69, with a volume of 6094 shares trading hands. The stock had previously closed at $94.92.

Analyst Upgrades and Downgrades

KALU has been the subject of a number of research reports. UBS Group initiated coverage on Kaiser Aluminum in a report on Tuesday, January 16th. They issued a "neutral" rating and a $67.00 price target for the company. JPMorgan Chase & Co. upped their target price on Kaiser Aluminum from $68.00 to $80.00 and gave the stock a "neutral" rating in a report on Wednesday, April 10th. Finally, Benchmark restated a "buy" rating and set a $84.00 target price on shares of Kaiser Aluminum in a report on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Kaiser Aluminum has an average rating of "Hold" and an average target price of $77.00.

Kaiser Aluminum Stock Performance

The business has a 50-day moving average price of $82.65 and a 200-day moving average price of $70.23. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 27.66 and a beta of 1.38. The company has a quick ratio of 1.43, a current ratio of 2.66 and a debt-to-equity ratio of 1.56.

Kaiser Aluminum (NASDAQ:KALU - Get Free Report) last issued its quarterly earnings results on Thursday, April 25th. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.44. Kaiser Aluminum had a return on equity of 8.40% and a net margin of 1.85%. The business had revenue of $738.00 million for the quarter, compared to the consensus estimate of $733.34 million. During the same period in the prior year, the firm posted $0.99 earnings per share. The business's quarterly revenue was down 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that Kaiser Aluminum Co. will post 3.65 earnings per share for the current year.

Kaiser Aluminum Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Thursday, April 25th will be given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Wednesday, April 24th. Kaiser Aluminum's payout ratio is 89.53%.

Hedge Funds Weigh In On Kaiser Aluminum

Several hedge funds have recently made changes to their positions in KALU. Victory Capital Management Inc. grew its position in Kaiser Aluminum by 12.0% during the 3rd quarter. Victory Capital Management Inc. now owns 1,249,158 shares of the industrial products company's stock worth $94,012,000 after purchasing an additional 134,073 shares during the period. Norges Bank acquired a new stake in Kaiser Aluminum during the 4th quarter worth about $7,415,000. Assenagon Asset Management S.A. grew its position in Kaiser Aluminum by 397.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 79,358 shares of the industrial products company's stock worth $7,091,000 after purchasing an additional 63,396 shares during the period. First Eagle Investment Management LLC grew its position in Kaiser Aluminum by 105.5% during the 3rd quarter. First Eagle Investment Management LLC now owns 113,312 shares of the industrial products company's stock worth $8,528,000 after purchasing an additional 58,171 shares during the period. Finally, Tributary Capital Management LLC grew its position in Kaiser Aluminum by 23.6% during the 1st quarter. Tributary Capital Management LLC now owns 271,120 shares of the industrial products company's stock worth $24,227,000 after purchasing an additional 51,834 shares during the period. 99.29% of the stock is owned by institutional investors and hedge funds.

About Kaiser Aluminum

Kaiser Aluminum Corporation, together with its subsidiaries, engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. It offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products.